Analog Devices (NASDAQ:ADI) releases third-quarter 2024 earnings guidance

Analog Devices ( NASDAQ:ADI – Get Free Report ) on Wednesday updated its earnings guidance for the third quarter of 2024. The company reported earnings per share (EPS) for the period of 1,400-1,600 compared to the consensus estimate of 1,350 . The company issued revenue guidance of $2.2 billion to $2.4 billion, compared to the consensus revenue estimate of $2.2 billion. Analog Devices also updated its third-quarter guidance to $1.40-$1.60 EPS.

Trading in analog devices decreases by 2.3%

Shares of NASDAQ:ADI opened at $234.56 on Friday. The company has a current ratio of 1.58, a quick ratio of 0.98 and a debt-to-equity ratio of 0.19. The stock has a market capitalization of $116.39 billion, a PE ratio of 54.80, a P/E/G ratio of 6.03 and a beta of 1.14. Analog Devices has a 1-year low of $154.99 and a 1-year high of $241.88. The company has a fifty-day moving average price of $199.92 and a 200-day moving average price of $193.03.

Analog Devices ( NASDAQ:ADI – Get Free Report ) last announced its earnings results on Wednesday, May 22nd. The semiconductor company reported $1.40 earnings per share (EPS) for the quarter, which topped analysts’ consensus estimates of $1.26 by $0.14. Analog Devices had a return on equity of 10.74% and a net margin of 20.45%. The company had revenue of $2.16 billion for the quarter, compared to analyst expectations of $2.11 billion. During the same quarter last year, the company earned $2.83 per share. The company’s year-over-year revenues decreased by 33.8%. Analysts expect Analog Devices to report 5.86 EPS for the current fiscal year.

Dividend announcement for analog devices

The company also recently announced a quarterly dividend, which will be paid on Monday, June 17. Investors of record will receive a dividend of $0.92 per share on Tuesday, June 4. This represents a dividend of $3.68 on an annualized basis and a yield of 1.57%. The ex-dividend date of this dividend is Tuesday, June 4. Analog Devices’ dividend payout ratio (DPR) is currently 85.98%.

A Wall Street analyst weighs in

ADI has been the subject of several analyst reports. Barclays raised their price target on Analog Devices from $185.00 to $210.00 and gave the stock the same rating in a report on Monday. Evercore ISI began working on analog devices in a research note on Tuesday, April 16. They set an outperform rating and a $254.00 price target for the company. Oppenheimer increased their price target on shares of Analog Devices from $215.00 to $245.00 and gave the company an outperform rating in a research note on Thursday, May 16th. Robert W. Baird increased their price target on shares of Analog Devices from $200.00 to $250.00 and gave the stock an outperform rating in a research report on Friday. Finally, TD Cowen raised their price target on shares of Analog Devices from $210.00 to $270.00 and gave the company a “buy” rating in a report on Thursday. Seven investment analysts have rated the company with a hold rating and eighteen analysts have issued a buy rating to the company. Based on data from MarketBeat, Analog Devices currently has an average rating of Moderate Buy and an average price target of $239.42.

Download our latest stock report on ADI

Buying and selling confidential information

In related news, Director James Champy sold 1,228 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $197.64 for a total value of $242,701.92. Following the transaction, the director now owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a document filed with the SEC, which can be accessed at this link. In other Analog Devices news, Director James Champy sold 1,228 shares of the company’s stock in a transaction on Thursday, March 21st. The shares were sold at an average price of $197.64, for a total value of $242,701.92. Following the transaction, the director now directly owns 6,371 shares of the company’s stock, valued at approximately $1,259,164.44. The sale was disclosed in a legal filing with the SEC, available at this link. Additionally, CEO Vincent Roche sold 10,000 shares of Analog Devices stock on Monday, April 1st. The shares were sold at an average price of $197.40, for a total value of $1,974,000.00. Following the sale, the CEO now directly owns 51,039 shares of the company’s stock, valued at approximately $10,075,098.60. The announcement of this sale can be found here. Over the last three months, insiders sold 24,707 shares of company stock worth $4,874,613. 0.31% of shares are owned by insiders.

Analog devices company profile

(Get the free report)

Analog Devices, Inc designs, manufactures, tests and sells integrated circuits (ICs), software and subsystems in the United States, the rest of North and South America, Europe, Japan, China and the rest of Asia. The company provides data conversion products that translate real analog signals into digital data, and also translate digital data into analog signals; power management products and reference products for power conversion, controller monitoring, sequencing and energy management in the automotive, telecommunications, industrial and consumer markets; and power ICs, which include performance simulation, integration, and software design tools to achieve accurate power supply designs.

Further reading

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